Category: Taxes

“Among President Obama’s many high-profile health care promises, there is this gem from his 2009 address to Congress: “I will not sign a plan that adds one dime to our deficits–either now or in the future.”
But according to Republican staff on Senate Budget Committee, those dimes are starting to pile up. The Senate staff report says that the Affordable Care Act will add $131 billion to the federal deficits over the period 2015 to 2024.”

“As we have written before, Arkansas’ “Private Option” ObamaCare Medicaid expansion has been a disaster for taxpayers, patients and politicians alike. Costs have run over budget every single month since the program’s launch. The Medicaid director who spearheaded the program abruptly resigned to “pursue other opportunities.” The program’s chief legislative architect, a three-term Republican state representative, lost his primary for an open Senate seat to a political newcomer, despite a significant fundraising advantage. And it’s a disaster for patients as well: the ObamaCare expansion plan is already prioritizing coverage for able-bodied adults over care for truly needy patients like Chloe Jones.”

“There are dozens of ways to escape Obamacare’s individual mandate tax — but good luck figuring that out come tax season.
Tens of millions of Americans can avoid the fee if they qualify for exemptions like hardship or living in poverty, but the convoluted process has some experts worried individuals will be tripped up by lost paperwork, the need to verify information with multiple sources and long delays that extend beyond tax season.
“It’s not going to be pretty,” said George Brandes, vice president of health care programs at Jackson Hewitt, a tax prep firm. “Just because you theoretically qualify for hardship, or another exemption, doesn’t mean you’re going to get it.””

“Health Reform: Wal-Mart says it’s cutting health benefits to part-timers and boosting worker premiums. If a retail empire built on low prices can’t find a way around ObamaCare’s added costs, we are all doomed.
The world’s biggest retailer announced this week that its health costs will be about 48% higher for the current fiscal year than it had expected in February. As a result, it’s cutting 30,000 part-timers from its health benefit plan, raising worker-paid premiums by 19% and trimming its co-payment for health costs above the deductible.
“We had to make some tough decisions,” benefits director Sally Wellborn told the Associated Press. But to hear President Obama tell it, Wal-Mart just didn’t shop around.
That, at least, was what he said when the general manager of the Indiana-based Millennium Steel asked Obama last week about the company’s double-digit premium hikes.
Obama’s response: “The question is whether you guys are shopping effectively enough.””

“There are obvious benefits to getting health insurance at work. For one, employer-sponsored insurance is not taxed, meaning that every dollar of compensation provided as medical coverage stretches further. Individual market plans, meanwhile, are purchased with post-tax dollars. The only way to get in on the tax exemption is to buy coverage at work.
But for low-wage workers, Obamacare  has introduced a new and big drawback to the employer insurance. Namely, anybody who gets access to affordable coverage at work is barred from getting subsidies through the new exchanges. This is even true for people who don’t buy insurance at work; just the act of getting offered employer coverage blocks individuals from using getting financial help.”

“I’m sure glad that all the exposure of the activities of the IRS and Lois Lerner have put an end to using the IRS as a tool to attack administration critics. The crisis clearly is over, citizens.
The producer of a new movie that criticizes Obamacare has reportedly become the latest prominent conservative slapped with an IRS audit.”

“CHICAGO — There is a “better than 50/50” chance the ACA’s device tax will be repealed if Republicans win the Senate in November, Evan Bayh, former Democratic Indiana senator and governor, said Tuesday (Oct. 7) at the Advanced Medical Technology Association’s medtech conference. A Republican-controlled Congress likely would first vote to repeal the Affordable Care Act, and after that measure is vetoed would settle on other changes to the law, such as a repeal of the industry-opposed excise tax, said Bayh, now a partner at McGuireWoods.”

“At the heart of Halbig v. Burwell[1] and the series of cases that are following it through the federal court system is an attempt to understand what state and federal legislators were thinking last year, two years ago, even four years ago when the Affordable Care Act (ACA) passed. While many experts and lawyers in this case have hypothesized about Congress’ intent, contrary to the claims of the Government, at least one establishing and one non-establishing state understood the language of the statute to condition subsidies on state establishment of Exchanges when they made their determination on whether to establish an Exchange. Furthermore, this understanding was timely in the chronology of ACA implementation.”

“As soon as Air Force One touched down in Indiana on Friday, Gov. Mike Pence met President Barack Obama on the tarmac with a plea: Expand the state’s access to government-sponsored health insurance.
The catch: Pence wants to do it with a conservative twist.
At least, that’s how he’s selling his proposal. And his political future could hinge on whether the first-term Republican can convince conservatives that he’s not just rebranding Obamacare.
Pence has spent much of his first two years in office trying to strike a bargain on one of the health care law’s core components. Indiana will expand Medicaid coverage, Pence says, but only if it’s allowed to do it through a tweaked version called the “Healthy Indiana Plan,” which also requires users to make small payments into health savings accounts.”

“The Supreme Court on Monday returns to work to face a rich and varied docket, including cases on First Amendment rights in the digital age, religious freedom behind bars and the status of Jerusalem.
Those cases are colorful and consequential, but there are much bigger ones on the horizon.
“I’m more excited about the next 12 months at the Supreme Court than about any Supreme Court term in its modern history,” said Thomas C. Goldstein, who argues frequently before the court and is the publisher of Scotusblog.
In the coming weeks, the justices will most likely agree to decide whether there is a constitutional right to same-sex marriage, a question they ducked in 2013. They will also soon consider whether to hear a fresh and potent challenge to the Affordable Care Act, which barely survived its last encounter with the court in 2012.”